This document provides an overview of a presentation on analyzing the risk-adjusted performance of mutual funds listed on the Dhaka Stock Exchange in Bangladesh. The presentation is given by Md. Enamul Islam Shemul, a student at Patuakhali Science and Technology University. The selected topic is on measuring the risk-adjusted performance of mutual funds using various metrics like Sharpe ratio, Treynor ratio, Jensen's alpha, and selectivity. The document outlines the objectives, methodology, conceptual framework, analysis of return, risk measures, risk-adjusted performance results, findings and conclusion of the study.
We cannot reduce market risks or systematic risks but we can have a measure of these risks with the help of beta.
With the help of beta we can approximately tell how much a particular stock will move if we know how much the whole stock market is going to move.
We cannot reduce market risks or systematic risks but we can have a measure of these risks with the help of beta.
With the help of beta we can approximately tell how much a particular stock will move if we know how much the whole stock market is going to move.
Prepared by Students of University of Rajshahi
Shahin Islam
Aslam Hossain
Shahidul Islam
Amy Khatun
Sohanuzzaman Sohan
MD. Rehan
Bikash Kumar
Rahid Hasan
Ali Haider
Uttam Kumar
MD. Abdullah AL Mamun
Mamunur Rahman
presented by Mango squad
For downloading this contact- bikashkumar.bk100@gmail.com
Capital Asset Pricing Model (CAPM)
A model that describes the relationship between risk and expected return. The general idea behind CAPM is that investors need to be compensated in two ways: time value of money & risk. The time value of money is represented by the risk-free (rf) rate in the formula and compensates the investors for placing money in any investment over a period of time. The other half of the formula represents risk and calculates the amount of compensation the investor needs for taking on additional risk. This is calculated by taking a risk gauge (beta) that compares the returns of the asset to the market over a period of time and to the market premium (Rm-rf).
A Study on the Performance of Mutual Fund Scheme in IndiaIJAEMSJORNAL
A mutual fund is a trust that encompasses the savings of a number of investors who share a common financial goal. The money thus collected is then invested in capital market instruments such as shares, debentures and other securities. The income earned through these investments and the capital appreciation realized is shared by its unit holders in proportion to the number of units owned by them. Thus, Mutual Fund is one of the most effective instruments for the small & medium investors for investment and offers opportunity to them to participate in capital market with low level of risk. It also provides the facility of diversification i.e. investors can invest across different types of schemes. Indian Mutual Fund has achieved a lot of popularity since last two decades. For a long time UTI enjoyed the monopoly in mutual fund industry. But with the passage of time many new players came in the market and thus the mutual fund industry faces a lot of competition. Now a day this industry has become the major player of the financial system. Therefore it becomes important to investigate the mutual fund performance at continuous basis. The wide variety of schemes floated by these mutual fund companies gave wide investment choice for the investors. Among wide variety of funds equity, diversified fund is considered as substitute for direct stock market investment. In present paper an attempt has been made to investigate the performance of the open ended, growth oriented, equity diversified schemes on the basis of return and risk evaluation. The analysis was achieved by assessing various financial tests like Average Return, Standard Deviation, Beta, Coefficient of Determination (R2), Alpha, Sharpe Ratio and Treynor Ratio whose results will be useful for investors for taking better investment decisions. The data has been taken from various websites of mutual fund schemes and from amfiindia.com. The analysis depicts that majority of funds selected for study have outperformed under Sharpe Ratio as well as Treynor Ratio.
Prepared by Students of University of Rajshahi
Shahin Islam
Aslam Hossain
Shahidul Islam
Amy Khatun
Sohanuzzaman Sohan
MD. Rehan
Bikash Kumar
Rahid Hasan
Ali Haider
Uttam Kumar
MD. Abdullah AL Mamun
Mamunur Rahman
presented by Mango squad
For downloading this contact- bikashkumar.bk100@gmail.com
Capital Asset Pricing Model (CAPM)
A model that describes the relationship between risk and expected return. The general idea behind CAPM is that investors need to be compensated in two ways: time value of money & risk. The time value of money is represented by the risk-free (rf) rate in the formula and compensates the investors for placing money in any investment over a period of time. The other half of the formula represents risk and calculates the amount of compensation the investor needs for taking on additional risk. This is calculated by taking a risk gauge (beta) that compares the returns of the asset to the market over a period of time and to the market premium (Rm-rf).
A Study on the Performance of Mutual Fund Scheme in IndiaIJAEMSJORNAL
A mutual fund is a trust that encompasses the savings of a number of investors who share a common financial goal. The money thus collected is then invested in capital market instruments such as shares, debentures and other securities. The income earned through these investments and the capital appreciation realized is shared by its unit holders in proportion to the number of units owned by them. Thus, Mutual Fund is one of the most effective instruments for the small & medium investors for investment and offers opportunity to them to participate in capital market with low level of risk. It also provides the facility of diversification i.e. investors can invest across different types of schemes. Indian Mutual Fund has achieved a lot of popularity since last two decades. For a long time UTI enjoyed the monopoly in mutual fund industry. But with the passage of time many new players came in the market and thus the mutual fund industry faces a lot of competition. Now a day this industry has become the major player of the financial system. Therefore it becomes important to investigate the mutual fund performance at continuous basis. The wide variety of schemes floated by these mutual fund companies gave wide investment choice for the investors. Among wide variety of funds equity, diversified fund is considered as substitute for direct stock market investment. In present paper an attempt has been made to investigate the performance of the open ended, growth oriented, equity diversified schemes on the basis of return and risk evaluation. The analysis was achieved by assessing various financial tests like Average Return, Standard Deviation, Beta, Coefficient of Determination (R2), Alpha, Sharpe Ratio and Treynor Ratio whose results will be useful for investors for taking better investment decisions. The data has been taken from various websites of mutual fund schemes and from amfiindia.com. The analysis depicts that majority of funds selected for study have outperformed under Sharpe Ratio as well as Treynor Ratio.
We are a Quantitative investment group committed to revolutionize the fund management industry in the country. We are using pure quant technique to create a zero loss fund (the fund will always be positive) i.e; all of your losses (if any) will be insured.
Question 1Risk & Return and the CAPM. Based on the following.docxIRESH3
Question 1
Risk & Return and the CAPM.
Based on the following information, calculate the required return based on the CAPM:
Risk Free Rate = 3.5%
Market Return =10%
Beta = 1.08
Question 2
Risk and Return, Coefficient of Variation
Based on the following information, calculate the coefficient of variation and select the best investment based on the risk/reward relationship.
Std Dev.Exp. Return
Company A 7.4 13.2
Company B 11.6 18.9
Question 3
Risk and Return, Coefficient of Variation
Based on the following information, calculate the coefficient of variation and select the best investment based on the risk/reward relationship.
Std Dev.Exp. Return
Company A 10.4 15.2
· Company B 14.6 22.9
Question 4
Measures of Risk.
Address each source of risk that is measured and relate it to two models addressed in this unit.
· Your response should be at least 250 words in length.
BBA 3301, Financial Management 1
UNIT VI STUDY GUIDE
Risk and Return
Learning Objectives
Upon completion of this unit, students should be able to:
1. Explain the risk-reward relationship.
2. Calculate holding period returns.
3. Calculate required returns using the Capital Asset Pricing Model
(CAPM).
4. Calculate the coefficient of variation for varying investments.
5. Decompose sources of risk.
6. Contrast measures of risk.
7. Describe portfolio theory and diversification.
Written Lecture
Whenever a business or individual makes an investment decision, risk must be
considered. This unit focuses entirely on the risk-return relationship, providing
tools for measurement, analysis and decision making.
To begin, the term risk must be defined. From a practical or applied perspective,
risk is the probability of losing some or all of the money invested. In finance, risk
is often associated with volatility of variance in returns (around some average
return). Generally, it is assumed that investments that offer higher returns
involve greater risk. For purposes of this unit, risk is measured through two
primary measures:
Standard Deviation, and
The Beta Coefficient
The rate of return allows an investment's return to be compared with other
investments. For one-year investments, the return on a debt investment is:
k = interest paid / loan amount
The return on a stock investment is calculated by the following equation
k = [D1 + (P1 – P0)] / P0
Where:
D1 = Dividends for the “next” year (on a share of stock)
P1= Price of a share of stock, one period into the future
P0= Price of a share of stock today
The expected return on stock is the return investors feel is most likely to occur
based on current information. Return is influenced by the combination of stock
price (capita ...
Developing linkage among transactional value, acquisition value, relationship...Enamul Islam
Developing linkage among transactional value, acquisition value, relationship value and the cycle of failure of the informal service sector of uncertainty avoidance society
IMPACT OF ADVERTISING ON CONSUMER’S BUYING BEHAVIOREnamul Islam
Advertising is a form of communication intended to convince the audiences or consumers to purchase or take some action upon products, information or services. In this study, we tried to find out the impact of advertising on consumers’ minds about the product and their buying behavior. We have surveyed 100 respondents who are studying in the universities of the southern part of Bangladesh to identify the relationship between consumer buying behavior and advertisement. We mainly collected our data from three universities which are Khulna University, University of Barisal and Patuakhali Science and Technology University. The major finding of our study after analyzing all data is that there is a positive impact of advertising on consumer’s buying behavior and advertising plays a vital role to know about a new product.
Practices of IMC in Fast Moving Consumer Goods in BangladeshEnamul Islam
Fast-moving consumer goods (FMCG) are products that are sold quickly and at relatively low cost. Examples include non-durable goods such as soft drinks, toiletries, over-the-counter drugs, toys, processed foods, and many other consumables. The term was coined by Neil H. Borden in 'The Concept of the Marketing Mix' in 1965. FMCGs generally have a short shelf life. Some FMCGs, such as meat, fruits and vegetables, dairy products, and baked goods, are highly perishable. Other goods such as alcohol, toiletries, pre-packaged foods, soft drinks, and cleaning products have high turnover rates.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
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The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
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Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
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@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
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Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
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2. • Md. Enamul Islam Shemul
• Student of Patuakhali Science and
Technology University
• Faculty of Business Administration and
Management
• Session 2013-14
3. Our selected topic name is “Risk
adjustment performance analysis of
DSE listed companies: A case study
on Mutual funds”.
4. Introduction:
A mutual fund is a professionally managed type of
collective investment scheme that pools money from
many investors and invests it in stocks, bonds, short-term
money market instruments or other securities. Most
open-end mutual funds stand ready to redeem its shares
at their current net asset value, which depends on the
total market value of the fund’s investment portfolio at
the time of redemption. Risk-adjusted performance
measures are frequently used to rank investment
opportunities. The ranking methods differ due to
different choices for the return and risk measures as well
as the way of adjusting for risk.
5. Objectives of the study:
Main Purpose of this study is to understand the
risk adjusted performance of DSE listed Mutual
Funds. This study has attempted to specify some
other objectives:
• To know about market index of DSE
• To know about return
• To know about systematic risk with return
• To know about per unit risk return relationship
6. Methodology of the study
Population size
Sample size
Sampling plan
Selection of Index
Source of Data
Procedure of Data Analysis
7. Conceptual Discussion
Return:
The return consists of the income and the capital gains relative on an
investment. It is usually quoted as a percentage. Return is computed
on the basis of monthly closing stock price and return of the market
are calculated on the basis of DSI price.
Standard deviation:
Standard deviation is applied to the annual rate of return of an
investment to measure the investment's volatility. The smeller stander
deviation indicates the lower degree of risk of the stock.
Total risk (σ):
Systematic risk+ unsystematic risk
Systematic risk:
The risk inherent to the entire market or entire market segment.
8. Variance:
Variance measures the variability (volatility) from an average. Volatility
is a measure of risk, so this statistic can help determine the risk an
investor might take on when purchasing a specific security.
Coefficient of variation:
To compare series having different values, we need a relative measure
of dispersion, which is Coefficient of variation (CV). It measures the
risk per unit of return.
Covariance:
The coefficient of variation represents the ratio of the standard
deviation to the mean, and it is a useful statistic for comparing the
degree of variation from one data series to another, even if the means
are drastically different from each other. Coefficient of variation allows
determining how much volatility (risk) is assuming in comparison to
the amount of return that can expect from r investment.
9. Beta Coefficient:
Beta coefficient is the measure of sensitivity which
reflects the tendency of the return on a given stock with
the stock market/ market portfolio. The beta coefficient is
a measure of systematic risk.
Sharpe Ratio:
It was developed by William F. Sharpe (1966). Here,
additional portfolio return over risk free return is related
with the total risk of the portfolio. The greater a
portfolio's Sharpe ratio, the better its risk-adjusted
performance has been. A negative Sharpe ratio indicates
that a risk-less asset would perform better than the
security being analyzed. The Sharpe ratio measures the
risk premium earned per unit of risk exposure.
10. Treynor Ratio:
This is introduced by Treynor (1965) and similar to the above discussed
Jensen measure. Here, additional returns of the portfolio over the risk free
return is expressed in relation to portfolio‘s systematic risk. Treynor ratio is a
risk-adjusted measure of return based on systematic risk. It is similar to the
Sharpe ratio, with the difference being that the Treynor ratio uses beta as the
measurement of volatility. Treynor ratio is a measurement that utilizing the
relationship between annualized risk-adjusted return and risk.
Jensen Alpha:
According to Jensen (1968), equilibrium average return on a portfolio would
be a benchmark. Equilibrium average return is the return of the portfolio by
the market with respect to systematic risk (volatility) of the portfolio. This is a
return the portfolio should earn with the given systematic risk.
Appraisal ratio:
A ratio used to measure the quality of a fund's investment picking ability. It
compares the fund's alpha (or the adjusted return of the fund assuming the
market return is zero) to the portfolio's unsystematic risk or residual standard
deviation.
11. Result and Discussion
• Return earned by the DSE Listed Mutual Funds in Bangladesh
Mutual Funds list Annualized Return Return below
market
Return above
market
Abnormal Return
DSEX 1.253%
LR global bd ltd 3207944.857% √
EBL NRB Mutual Fund 221.288% √
FIRST ICB MUTUAL 766.680% √
Green delta mutual fund 3175.181% √
ICB AMCL FIRST MUTUAL FUND -19.246% √
ICB AMCL Second Mutual Fund -41.166% √
MBL first mutual fund 79423909459.221% √
NCCBL Mutual Fund-1 1905.012% √
NLI First Mutual Fund -17.077% √
Phonix finance first mutual 699.176% √
PHP 1st mutual fund 1289.252% √
Popular life 1st mf 21619.811% √
PB 1st ICB Mutual -40.864% √
Prime finance 1st mf -6.361% √
3rd ICB mutual fund 218.219% √
Trust bank 1st mf 19068.176% √
ICB AMCL ISLAMIC -35.538% √
ICBAMCL FIRST NRB -25.588% √
ICB AMCL SECOND NRB -35.191% √
ICB AMCL Third NRB -13.064% √
Prime bank 1st mf 2980.908% √
First BD Fixed Income -20.410% √
GRAMEEN ONE 323.279% √
FBSRS -24.560% √
Percentage 18/40 = 45% 12/40 = 30% 10/40 = 25%
17. Synopsis of Risk adjusted performance measures
Mutual Fund Name Sharpe Ratio Treynor Ratio Jensen Alpha Fama's Net Selectivity
6th mutual fund +ve; OP +ve; OP +ve +ve
2nd ICB mutual fund +ve; OP +ve; UP +ve +ve
First Janata Bank -ve; UP +ve; UP -ve -ve
LR global bd ltd +ve; OP +ve; OP +ve +ve
DBH First Mutua -ve; UP -ve; UP -ve -ve
EBL 1st MUTUAL -ve; UP -ve; UP -ve -ve
EBL NRB mf +ve; OP +ve; OP +ve +ve
8th ICB MUTUAL +ve; OP -ve; UP +ve +ve
5th ICB MUTUAL -ve; UP -ve; UP +ve -ve
Trust bank 1st mf +ve; OP -ve; UP +ve +ve
AIMS FIRST +ve; OP +ve; OP +ve +ve
ICB AMCL ISLAMIC -ve; UP +ve; UP -ve -ve
ICBAMCL 1st NRB -ve; UP -ve; UP +ve -ve
ICB AMCL 2nd NRB -ve; UP -ve; UP +ve -ve
ICB AMCL Third NRB -ve; UP -ve; UP -ve -ve
ICB employees provident -ve; UP -ve; UP -ve -ve
Prime bank 1st mf +ve; OP -ve; UP +ve +ve
First BD Fixed Income -ve; UP -ve; UP -ve -ve
GRAMEEN ONE +ve; OP -ve; UP +ve +ve
FBSRS -ve; UP -ve; UP -ve -ve
Positive and (Negative) % 50% & (50%) 47.5% & (52.5%) 57.5% & (42.5%) 50% (50%)
18. Findings
• On the basis of Sharpe ratio, Treynor ratio & Jensen Alpha, out of 40
mutual funds MBL first mutual fund, Trust bank 1st mf, LR global bd
ltd and popular life 1st mutual fund performance are abnormal.
• On the basis of Sharpe ratio, Treynor ratio & Jensen Alpha, out of 40
mutual funds Green delta mutual fund, 1st ICB mutual fund and
AIMS 1st mutual fund performance are very good.
• Out of 40 mutual funds, Trust bank 1st mf, LR global bd ltd and
Popular life 1st mutual fund are shown high risk.
• Out of 40 mutual funds, LR global bd ltd, MBL first mutual fund,
Popular life 1st mf, Trust bank 1st mutual fund are shown abnormal
return.
• Out of 40 mutual funds, Green delta mutual fund, NCCBL Mutual
Fund-1, PHP 1st mutual fund and Prime bank 1st mutual fund are
shown good return.
19. Conclusion
The main objective of this paper was to measure the risk
adjusted performance of mutual funds based on monthly
average price. The existing 40 mutual funds attained a great
collective growth over the past years, but individually some of
them are struggling yet to improve. From the result of analysis
it is evident that overall performance of the mutual funds are
moderately superior to the market index return. Mutual funds
have the capability to provide solutions to most investors’
needs, however, the key is to do proper selection and have a
process for monitoring and controlling. In Bangladesh, the
mutual fund industry is at a growing stage and it is
incorporating a higher number of new funds each year.
